Update on the proposed sale of Greenlane Biogas
Updated : 07:09
28 May 2019
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Pressure Technologies plc
("Pressure Technologies" or "the Group")
Update on the proposed sale of Greenlane Biogas
Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that further to the update on 13 May 2019 on the proposed sale of the Group's wholly-owned subsidiary, PT Biogas Holdings Limited, trading as Greenlane Biogas ("Proposed Sale"), to Creation Capital Corp (TSX-V: CRN.P), a capital pool company listed on the TSX Venture Exchange ("TSX-V"), Creation Capital has announced that it has received sufficient orders to achieve the $6 million minimum amount and the subscription receipt offering is expected to complete this week. Final details of the total amount raised, and terms of the Proposed Sale will be announced at Completion, which is expected to be before the end of May 2019.
A copy of Creation Capital's news release is available under its SEDAR profile and can be accessed via this link. Link to Creation Capital's news release
For further information, please contact:
Pressure Technologies plc Chris Walters, Chief Executive Joanna Allen, Chief Financial Officer
| Tel: 0114 257 3616 www.pressuretechnologies.com |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) | Tel: 020 7894 7000 |
Philip Davies / Will Goode
| |
Belvedere Communications Keeley Clarke (kclarke@belvederepr.com) Cat Valentine (cvalentine@belvederepr.com)
|
Tel: 07967 816 525 Tel: 07715 769 078 |
COMPANY DESCRIPTION
Company description - www.pressuretechnologies.com
With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high-pressure components and systems serving the global energy, defence and industrial gases markets.
Precision Machined Components - www.pt-pmc.com
● Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk
● Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk
● Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk
● Martract Limited, Barton-on-Humber, acquired in December 2016 www.martract.co.uk
Cylinders
● Chesterfield Special Cylinders, Sheffield, IPO cornerstone in 2007 and includes, CSC Deutschland Gmbh, which is based in Dorsten, Germany and Chesterfield Special Cylinders Inc. which is based in Houston, USA www.chesterfieldcylinders.com
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